Apr. 23rd, 2017

As I was waiting to pay for my groceries, I saw the headline in the (ick) National Enquirer, "What Trump Doesn't Know!"

That sounds like the title of a very thick book.
Two months ago, Commentary magazine published an article by Nicholas Eberstadt on "Our Miserable Twenty-First Century," detailing decreased participation in the labor force by working-age adults, slowed economic growth, opioid addiction, etc. It also showed how household he worth was back up and growing, following a downturn at the state's of the Great Recession.

I sent a letter to the editor, pointing out that higher household net worth -- which does not, of course, mean that every household enjoys a higher net worth -- at least partly reflected increased land values, both the value of land which people directly own, and the value of land owned by corporations, and reflected in the price of stock. I pointed out a few other things, as well. The current issue of Commentary included several letters responding to Dr. Eberstadt's article, but not mine. I did notice a relevant paragraph from elsewhere in the magazine, written by Stephen Daisley in his review of James Kirchick's The End of Europe:

"Where The End of Europe resonates is in diagnosing the three interdependent symptoms of la maladie Europeenne. First, it is primarily an internal complaint, coming from economic and political failures within each European country; second, while it has gestated with alarming speed, it can really be traced to the 2008 financial crisis; finally, rabble-rousers have profited from peddling anti-liberalism as the cure while seasoned political technocrats scour desperately and impotently for a remedy."

Right, the seasoned political technocrats hadn't read Henry George, and mostly were more or less dirigiste, not pro-free market, so they didn't know what hit them when the real estate bubbles in Britain, Spain, Ireland, and elsewhere burst, and they didn't know how to solve their counties' problems. The rabble-rousers have been making hay from their failure.

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